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Cable Update (GBPUSD)

  • #846,221
  • Nov 24, 2024 12:22am Nov 24, 2024 12:22am
Quoting Wavegarrick
{quote} Hi Mallee. No, in fact CJ passed away a couple of years ago. Cheers.
may Allah bless his soul in eternal peace !!
we all to follow one day certainly ! may not get life one day , as many times before , may one unexpected day!
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #846,222
  • Nov 24, 2024 4:00am Nov 24, 2024 4:00am
Does anyone know why i can't "upload from device" on my computer I use to be able two but now just keeps coming up "Error: this type is file is not supported"... many thanks in advance...
  • #846,223
  • Nov 24, 2024 4:32am Nov 24, 2024 4:32am
Bat shit crazy wokest Starmer has set a record for being the most hated prime minister in UK history and probably in the quickest time....go woke, go broke....
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Don't Leave Money on the Table
  • #846,224
  • Nov 24, 2024 6:08am Nov 24, 2024 6:08am
Quoting T721
{image}{quote} If anyone else wants to watch and comment on the recording this is my telegram and i will send you it
Ha ! I'd love a watch T but not a telegram user (dare I?)

Ping me if you wish ?
Griff
always learning
  • #846,225
  • Nov 24, 2024 6:42am Nov 24, 2024 6:42am
Quoting Waveskierrob
Does anyone know why i can't "upload from device" on my computer I use to be able two but now just keeps coming up "Error: this type is file is not supported"... many thanks in advance...
What are you trying to upload?
How to succeed in zero sum game?
  • #846,226
  • Nov 24, 2024 7:10am Nov 24, 2024 7:10am
Quoting dempire1
{quote} What are you trying to upload?
Just pics from the internet, which I've downloaded to my computer, but I can do this on my phone, just curious why it's stop on my computer all of a sudden
  • #846,227
  • Nov 24, 2024 8:35am Nov 24, 2024 8:35am
Quoting fontu
{quote} may Allah bless his soul in eternal peace !! we all to follow one day certainly ! may not get life one day , as many times before , may one unexpected day!
Captain Jack was a great Guy with a great vision of levels and market maker footprints. I was always in awe at his trading prowess purely naked trading and reading the market with live trades. A great guy and my interactions with him only left me in awe. Sorely missed. There are guys that are still following his legacy to this day.
He has left his footprint and will not be forgotten.
Cheers.
Trade to trade another day
  • #846,228
  • Nov 24, 2024 8:46am Nov 24, 2024 8:46am
Quoting griffc
{quote} Ha ! I'd love a watch T but not a telegram user (dare I?) Ping me if you wish ? Griff
never had any trouble with telegram pal... and the file i think is too big to send any other way. I think its stuff we mighta been over already
  • #846,229
  • Nov 24, 2024 10:43am Nov 24, 2024 10:43am
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How to succeed in zero sum game?
  • #846,230
  • Nov 24, 2024 11:04am Nov 24, 2024 11:04am
Good of a chance gap up...big on the EU hopefully, I could do with after last week...
  • #846,231
  • Nov 24, 2024 11:04am Nov 24, 2024 11:04am
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  • #846,232
  • Nov 24, 2024 12:06pm Nov 24, 2024 12:06pm
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  • #846,233
  • Edited 3:47pm Nov 24, 2024 1:03pm | Edited 3:47pm
Quoting Waveskierrob
Good of a chance gap up...big on the EU hopefully, I could do with after last week...
, let's hope it doesn't close until after Xmas...
  • #846,234
  • Nov 24, 2024 1:22pm Nov 24, 2024 1:22pm
GBPUSD price action on the daily time frame is bearish. After an initial bullish correction on Monday, price action printed bearish candlesticks on Wednesday through Friday. The bearish print of Friday broke below the 1. 25260 horizontal support area before snapping back to close at the level. Technically, bulls are resisting further bearish drive. Nevertheless, we cannot rule out further southward drive after a northward correction or sideways of price action. The dominant technical structure is bearish.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #846,235
  • Nov 24, 2024 1:31pm Nov 24, 2024 1:31pm
Because retail forex is based on obligations rather than asset transfers –
agreements to do a future exchange of currency, albeit ones which never
actually happen – it means there must be opposing long and short sides to all
open positions. Where a retail aggregator acts in a dealer fashion it is nominally
the counter-party to all customer positions, with the aggregator hedging
positional imbalances externally as per its risk management policies. Where the
aggregator operates in a broker fashion, while legally it may still be official
counter-party, the effective counter-party will be external - a liquidity provider,
another aggregator, the customer of another aggregator matched via an ECN,
or some combination thereof.
Regardless of the aggregator model, for each customer long there must
either be a customer or an institution short on the other side somewhere in the
market, and vice versa. That means every change in exchange rates is at once
financially benefitting one party and harming another by the same amount
How to succeed in zero sum game?
  • #846,236
  • Nov 24, 2024 2:10pm Nov 24, 2024 2:10pm
Some charts. A week to be cautious. Short trading hours for the US holiday and DXY doesn't look like it's done yet. Breached resistance as expected. It may hit the 76.4 fib or it could go higher to 88.2 fib.

And take care with EUR and Cable, looks like SNB intervening on EURCHF chart. This makes the TA for other pairs unreliable.

As for BTC, Tulip Mania in progress, unclear if it will breach $100k but it makes zero sense given USD strength. I'd like to see a second wick on the weekly chart before shorting it. Do wonder what impact the CBDC's will have on BTC once they kick into high gear.

Cable just opened gap up but those ma's crossing over above don't look inspiring for north.
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  • #846,237
  • Nov 24, 2024 4:41pm Nov 24, 2024 4:41pm
Quoting Abeylyn
GBP/USD UPDATE Daily Candlesticks are bearish, Mid-term and Daily trend are also bearish. Price has touched and bounced off the edge of Daily Support zone located at 1.2470. There is no sign to determine the validity of the Daily Support Zone therefore may. be looking for the best opportunity to Sell. Next Daily Support after 1.2470 is 1.2330. Best probability point to look for Short is located at pullback to at least around 1.2600 zone. However, the Trend, Market Structure and Price Action (MM) are the primary determinant of market sentiment. Will...
Price has touched 1.2600 zone . The last previous support turned resistant which can be seen easily on 30 min. chart. This comes earlier than 5:00 GMT but cannot be ignored.

It's a point where Sellers might probably be waiting to go short. However, it's important to point out that market has fallen into Range and any body Buyers or Sellers may have it at breakout

However, I may go Short very soon depending on the footprint of MM around current price with effective Risk Management

Good day all and have a nice pipping week.
Market Structure is the King.....
  • #846,238
  • Nov 24, 2024 4:50pm Nov 24, 2024 4:50pm
Quoting vinta.reddy
{quote} What a Bearish run for GBP. My trade set up for next weeks. DXY: 7 weeks of bullish gains. Trend too steep and strong. RSI at 65-70 levels and still some space to be bullish. Price well above 200 SMA. GBP USD. showed bearish trend since 7 weeks. no key levels of support below 26200. Next support Minor at 24600 and major at 23500. USD CPI sticky, good economic conditions. Low unemployment data. Market is already pricing in 75 Points of interest rate reduction for 2025. GBP economic conditions are weak. GDP stagnant and higher wage growth....
Perfect week. My strategy for this week. An extension of last week strategy.
Its all about Economy in US and UK/Europe. US showing strong PMI, GDP and Jobs market with slight sticky inflation. Very weak economic situation Europe while UK has sticky inflation and slowing economic indicators. Winter Energy prices and possible Russia escalation a real possibility.
Price has run too fast to my trend liking pace. Pound still in bearish trend. However need buyers to get bears going. So need sort of pull back to 26000 and 26600 levels. Long term range is 26600 and 24600 this week. will look for reversals at 23800.
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  • #846,239
  • Nov 24, 2024 6:01pm Nov 24, 2024 6:01pm
Shorting eu again
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Master your mind. Master Trading.
  • #846,240
  • Nov 24, 2024 6:03pm Nov 24, 2024 6:03pm
Shorting GU
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